The scheme - a partnership between Peterborough City Council and Empower Community, a social enterprise - was brought to an end early by the government’s decision to heavily reduce tariffs.
But the council insists that it will still benefit from the partnership and it is hoping to announce a new solar panel scheme shortly.
A spokesman said: “We installed free solar panels on over 95 per cent of those households that had the necessary permissions in place ahead of the change to the Feed-In Tariff.
“This could represent a financial benefit to residents and the council of approximately £1.25 million over the next 20 years.
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“Residents who received the free panels will now be able to make an energy saving of roughly £200 every year.
“They will also receive £100 every five years for having the panels on their roof.
“A community fund will be established and is expected to provide funding of £150,000 during the lifetime of the scheme. The council will receive a similar amount of income from the scheme over the next 20 years.
“Homeowners can register their interest for a future solar panel scheme which we hope to announce in the coming weeks at www.peterborough.gov.uk/freesolar.”
The council is lending £650,000 to Empower to be repaid within two years.